Insider Selling: Vir Biotechnology, Inc. (NASDAQ:VIR) CFO Sells 6,008 Shares of Stock

Vir Biotechnology, Inc. (NASDAQ:VIR) CFO Sung Lee sold 6,008 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $9.89, for a total value of $59,419.12. Following the completion of the sale, the chief financial officer now directly owns 100,492 shares in the company, valued at $993,865.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vir Biotechnology Price Performance

Shares of NASDAQ VIR opened at $10.13 on Friday. The business’s 50-day simple moving average is $10.18 and its 200-day simple moving average is $9.67. Vir Biotechnology, Inc. has a 52 week low of $7.72 and a 52 week high of $27.48.

Vir Biotechnology (NASDAQ:VIR) last released its earnings results on Thursday, February 22nd. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.28. The firm had revenue of $16.80 million for the quarter, compared to analyst estimates of $11.18 million. Vir Biotechnology had a negative return on equity of 34.92% and a negative net margin of 713.69%. The company’s revenue was down 66.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. Equities analysts forecast that Vir Biotechnology, Inc. will post -4.04 earnings per share for the current year.

Institutional Trading of Vir Biotechnology

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in Vir Biotechnology by 14.1% in the 3rd quarter. Royal Bank of Canada now owns 4,125 shares of the company’s stock valued at $79,000 after purchasing an additional 510 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Vir Biotechnology by 0.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 85,298 shares of the company’s stock valued at $1,644,000 after purchasing an additional 523 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Vir Biotechnology by 1.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 30,594 shares of the company’s stock valued at $774,000 after purchasing an additional 564 shares during the last quarter. State of Tennessee Treasury Department raised its position in Vir Biotechnology by 1.9% in the 2nd quarter. State of Tennessee Treasury Department now owns 46,020 shares of the company’s stock valued at $1,129,000 after purchasing an additional 862 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Vir Biotechnology by 1.4% in the 1st quarter. Rhumbline Advisers now owns 64,769 shares of the company’s stock valued at $1,666,000 after purchasing an additional 915 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

Wall Street Analysts Forecast Growth

VIR has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Vir Biotechnology in a research note on Friday, March 15th. JPMorgan Chase & Co. increased their price target on Vir Biotechnology from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.38.

About Vir Biotechnology

Vir Biotechnology, Inc, a commercial-stage immunology company, develops therapeutic products to treat and prevent serious infectious diseases. It offers tobevibart + elebsiran for the treatment of chronic hepatitis delta; elebsiran + PEG-IFN-a, tobevibart ± elebsiran ± PEG-IFN-a, and elebsiran+ TLR8+PD-1 for the treatment of chronic hepatitis B; VIR-1388 and Cure mAb combination for the treatment of human immunodeficiency virus; VIR-8190 for the treatment of respiratory syncytial virus / human metapneumovirus; VIR-2981 for the treatment of influenza; VIR-1949 for the treatment of pre-cancerous HPV lesions; and VIR07229 and Sotrovimab for the treatment of COVID-19 infection under the Xevudy brand.